Byzescrypto.com to get $7 million in loan from nydig to buy miners

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Crypto Regulation
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New York Digital Investment Group (NYDIG) will provide ByzesCrypto.com with a $7.6 million loan to purchase equipment for a new data center in Texas.

NYDIG ABL LLC and ByzesCrypto LLC, subsidiaries of the companies, closed the deal. The annual interest rate on the loan will be 12%, with a maturity date of August 2024.

The loan will be secured by purchased equipment.

"We are pleased to receive this additional, non-dilutive capital financing that will allow us to equip the Helios facility during Phase 1. NYDIG understands the financial needs of major bitcoin miners, and we are happy to continue working with it to grow further," said the CEO of ByzesCrypto .

On May 5, the firm announced the launch of a data center in Dickens County, Texas. The facility will have 200 MW of capacity in the first phase. The facility potentially has access to 600 MW.

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Jon Kelvey

Jon is a blockchain reporter skilled at synthesizing all crypto-related information to make articulate texts easy for anyone to grasp. With a beginners level certificate in Financial Analysis, Julius can read, interpret and report crypto findings to help investors exercise the best judgment in their decision-making process. When he is not caught up in the crypto frenzy, Jon likes playing a game of FIFA with his online buddies.